Auckland first-home buyers’ wages are nowhere near keeping up with the increase in the city’s house prices.
A new report into housing affordability shows that cheaper houses in almost all regions of New Zealand are affordable for couples in the prime first-house buying age bracket.
The only place they are not is Auckland.
Interest.co.nz’s Home Loan Affordability Report tracks the Real Estate Institute of New Zealand’s (REINZ) lower-quartile selling price in each region of the country and compares that with the median after-tax pay of couples aged 25-29, who are in full-time employment, based on Statistics NZ data.
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